AAPL, AMZN and GOOGL Forecast – Major US Stocks Show Continued Downward Pressure

AAPL Technical Analysis

Apple has the look of a market that is going to continue the selling that we saw on Friday as we had pulled back from the 200 day EMA. The market is likely to go looking to the $210 level, the latest swing low. And quite frankly, this chart looks a lot like the NASDAQ 100, except the NASDAQ 100 has actually broken the swing low to the downside. So, we’ll have to wait and see how this plays out, but Apple looks pretty bad. And I don’t even think it’s necessarily an Apple thing, I think it’s just a complete “risk off” type of environment.

AMZN Technical Analysis

Amazon looks like it is going to open up below the swing low. So that, I think,  opens up a move to lower levels, perhaps down to $180 and then after that $170. Really at this point in time, Amazon is probably one of the first that will recover because there is the consumer staples bit of Amazon that sooner or later people on Wall Street will start to look at again. But with the just vicious day after day selling it’s difficult to step in and buy this stock at the moment.

GOOGL Technical Analysis

And then finally, Alphabet or Google is going to open up down just a bit, probably getting ready to challenge the $150 level, an area that’s been important multiple times. So, I definitely keep an eye on that level. That being said, this market looks horrible. They all do.

So, I don’t know if Google or Alphabet, whatever you want to call it, is going to be any different than anybody else. At this point in time, it’s just not time to start buying stocks. If you choose to short them, that’s fine. That’s your decision. But as a general rule, I don’t like shorting a lot of things on Wall Street. They’re just not designed to do that. Although these individual stocks certainly look like they’re going to tell the story of more losses during the trading session on Monday.